How can Facebook’s video developments benefit your brand?

In the last few months, Facebook has introduced a raft of new video developments in its continuing quest for online video dominance. Alongside the announcement that they’re going to start sharing revenue for ads that run between videos from a small group of publishers, they’ve also launched the ability for users to embed Facebook videos on other sites.

But, there have been two developments that peaked our interest in recent weeks. First, the introduction of a fully-interactive 360-degree video ad which can be navigated exclusively with the users finger, lending the platform to more engaging ad formats through mobile devices. And secondly, a new video player option which allows users to detach a video from the News Feed and move it anywhere in their browser window while they keep scrolling, liking and commenting on posts.

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Facebook’s main aim, alongside increasing their hold on ad revenue and overall video audience, is to keep users on their platform rather than search elsewhere. But, how can your brand capitalise on these recent video developments?

What opportunities are there for my brand?

We can’t recall anybody ever being able to get so hands on with branded content before so, the potential for brands is huge. Not only will you be able to reach your target customer right through the decision funnel, from engagement right through to conversion but, hopefully these recent developments will help shorten that buyer journey and increase conversion rates.

As users aren’t actually leaving Facebook, it will be interesting to understand the cost modelling of these formats, something that they’ve yet to announce. But, if you have access to the demographic data around who sees, interacts, relates and shares that content it’s also going to help you formulate your remarketing strategy. Understanding individual’s level of engagement with your brand at multiple touchpoints will also ensure your targeting is refined and can be personalised to the user going forward.

Perhaps this is just the start of a fantastic two way relationship between brands and their customers on Facebook?

But, there continues to be challenges for brands wanting to capitalise on video advertising

Whilst video posts currently remain the best organic way to reach an audience, having almost double the reach of other posts (SocialBakers), as Facebook continue to enrich their video advertising offering, brands are going to have to invest more to pay for that reach. You won’t be able to get away with resizing and reposting your latest ad campaign or replicating individual campaign microsites if you want to make an impression but, go beyond your existing ad strategy and start thinking about a multi-touchpoint digital brand engagement strategy, if you’re not already.

The challenges and opportunities around video advertising haven’t changed but, it’s becoming more important than ever to get your ducks in a row.